not your eyes. >> welcome to the show. lori: thanks. okay. democrats making the case for another full here's the president obama as a national debt takes past. as the culprit. $16 trillion. we will go live to charlotte for a look at what is being said at the convention. melissa: ms lori. as our debt goes up our country's competitiveness is going down, for the fourth

straight year. economic and competitive problems. most -- will talk about what is to be done to change it. lori: what did you miss most? melissa: your honesty. you don't hold anything back ever. lori: it doesn't matter for on or off the air. who is this gentleman and your screen? is going to talk about some new gadgets. a amazon making an announcement tomorrow. next week its apple's turn him. what to expect and if anyone can move in on apple's dominance. melissa: time for stocks. nicole petallides is standing by . >> reporter: pursuing stocks. the dow jones industrial average up about 30 points. gains across the board. talcum aztec and s&p, but not too far off. two tenths of 1% to protect for the nasdaq. the pier index pulling back, but the big picture on the day where drugs are higher, retailers'

clicking of fedex and ups. really critical indicators of the economy here and abroad. fedex command issued a warning for going forward, looking at symantec -- china, weaker than anticipated. a tough global economy. we've seen fedex down over 1%. ups and the same sort of business packaging and shipping and such is down. said that has the down arrow as well. right now we're facing some down arrows for some of our big bellwethers. that market is managing to hold on to some gains. lori: all right. can you smell the bucket of wings? >> reporter: yes. and if i could smell them or whenever, end. lori: excellent. melissa: i'm in the minority on that. the pigs in the blanket is mine. let's move it on and talk

politics. obamacare for big speech last night at the convention. i love to dress -- dress. she looked stunning. tonight the spotlight is on the former president, bill clinton as he gave stage. peter barnes is on the scene with more. a lot has been made of the relationship between the former president and the current president. what should we expect? >> are not going to hear about the differences they had back in the 2008 campaign wind barack obama, you know, ran against his wife, but now secretary of. we will be hearing about the similarities according to campaign aides. remember president clinton's speech in 1996 called the bridge to the 21st century. it sounds an awful lot like when the future, president obama's story slogan for his programs for investment in and -- infrastructure and tax credits.

for going to hear president clinton stressed -- try and stress the similarities between the two. indoors president obama in that way. it gets interesting when president clinton gets in from the camera. right now the senior aides are saying that have spoken extensively with president clinton about his remarks and reviewed them carefully but it would give him as much time as he needs to make his case right-bility now the senior it's an important speech. but one concern here, the nfl season opener. dallas verses the giants. it may be hard for president clinton to score a touchdown for president obama with that competition. back to you. melissa: fracking is spurring job growths. can the obama administration take credit for the economic boom from fossil fuels to make joining me now the way in, the director of the u.s. treasury office and energy policy under president jimmy carter and is now an industry consultant.

thank you so much for joining us. without question fracking is one of the main reasons why we're seeing the unemployment rate in ohio. pennsylvania is just under 8 percent, but you say president obama can't really take credit for this. >> recent politicians take credit for energy gains for years. in fact, almost all the gains have come by virtue of the private sector. george mitchell with his work on shale gas and so on. and this benefit that is just kind of crept up bonus. i worked in the administration. it's surprising. the hot -- from fracking and the steel industry making all the pipes being used around the country to move both oil and gas i suspect many tankers it's something that has happened and

it's been done by the private sector of most of the dead body. lori: it has been the free-market working its magic. the fracking revolution has taken hold. a technology that in the past was too expensive to go after this natural-gas and some oil product that was trapped in shell, but now because of technology we can. he said the president can't take credit, but at the same time he could have stepped out with regulation preventing the capture of this gas. they at least have not stepped in the way. >> well, yes and no. in the first place, i'm a professional economist. i won't say it's the free-market. this did not happen because of the free-market -- while companies. happened because the oil market leftists and entrepreneurs came in. >> entrepreneurs are the free-market. lori: we love him the most. >> i just want to make sure because exxon would love to kill this. but that is, i just -- i think

that this crept up on the obama administration. had the obama epa really realized what was going on there would have moved much more quickly to clamp down on it. you know, the obama administration epa, particularly with terror as the regulations after november, what they have been talking about and other areas is it anything a hindrance you saw, it has happened because, not thanks to the obama administration. melissa: in the meantime if we talk about green jobs, the obama administration promised to create 5 million green jobs over the next ten years. in 2009 the stimulus plan spend 90 billion on cringe ounce which created less than a quarter of a million jobs so it sort of in contrast to that. >> every time the government has tried to sell conservation. carter tried it and obama has tried it.

the bush administration did a bit of it. they failed. lori: why? >> it is because, you know, the jobs are created really by entrepreneurial innovation. again, if you go back, the big oil companies left and george mitchell and so on figured out how to make fracking work. they created the jobs and the company's. they have built this whole thing. and the same thing is going to happen with the green jobs. you cannot make conservation -- these conservation things happen just by saying were going to create jobs. melissa: it does not make economic sense. almost never works out. >> never. lori: i hate to cut you off. >> send me some chicken wings please. melissa: we will. lori: thank you so much. melissa: the poor guy. really suffering. lori: of try to keep it together. i just noticed that the euro

against the dollar. let's see if oil rising here, perhaps there is a reaction. while recovering earlier losses. a very busy week of economic news on tap. the ecb, the fed. this week the u.s. august jobs report. how oil traders are setting up at all. phil flynn is in the pits of the cme. what is moving the commodities market today? >> i definitely think it's a little groggy today. the talk of sterilized bond buying has helped. oil is reacting to the fact that the euro has been creeping up. more behind the oil story today. today there is a report that iranian oil exports actually hit a 20 year low today, exporting less than a million barrels a day. that means there is still tension in that part of the world. we also, of course, are getting a lot of late breaking ongoing concerns of the aftermath recognize it. natural gas, for example, a report that the pipeline has declared.

[indiscernible] it is not all clear right now when it comes to production. we are not back to normal, and that is keeping the product on edge as well. a lot of volatility in gasoline. some downward pressure on heating oil. you know, these stories continue in the aftermath continues to linger. continuing to move markets. lori: appreciate that. you heard phil talk about the bond buying. it will likely hear more tomorrow. basically that means keeping of the balance sheet the same. they're not going to flooded any further. we are hearing a lot of terms being bandied about today. it would get into that one this afternoon. melissa: ashley webster all over that this afternoon. lori: our national debt has passed the $16 trillion market. the republican convention. up next, a look at what if anything the democrats are saying about it. lori: let's go ahead and check metals as we head off to break there. we mentioned strengthening

europe today. gold is slightly lower. $0.20. silver is down, but copper is climbing $0.6. that could be an indicator of better u.s. economic news and not. who knows. reacting these days. we will check back after the break.

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social media higher today. >> reporter: most -- both facebook and yelp. a lot of drivers. of course facebook has been under intense pressure. at $38 ipo. yesterday it fell to new lows. you see a big step drop today. that is because first and foremost the ceo, i'm not selling my shares. he will have the right to do so in the middle of november. he says is not doing that over the next 12 months. -as a sign of confidence, plus the fact that they're not going to be issuing more shares in order to pay off the nearly $2 billion tax bill, so that is number one. we'll take a look. yelp. the ceo has been touting growth, just talking about the fact that they are looking at monetizing and sunsets they're really will work well and work well for them in a monetary fashion. also he talks about growth ahead. with that kind of stock that gives a boost, 7% to the upside.

melissa: democratic party delegates and supporters are gathered in charlotte for the democratic national convention -- convention. will the u.s. national debt overshadow their celebration? fat chance. rich edson has that story. did i just give it away? >> reporter: we could rapid here, but we might as well go through it. there has been a little mention of the debt mountain of the democratic national convention. republicans in tampa featured a prominent onstage during speeches and above the convention floor with two national debt clocks -- keeping track of federal debt amassed since the start of the rnc and overall. despite the close of their convention republicans continue discussing the national debt promising solution three entitled when changes and lower spending. >> $16 trillion of debt yesterday. that is a country in decline. we have a clear choice. are we going to stay on the path that president obama has placed

a son or are we going to turn this thing around, when this election and get the country back on the right track? >> reporter: democrats say a sizable portion of the 16 trillion comes from president george w. bush's administration with tax cuts, to wars, and a new prescription drug benefit, though many democrats supported that. they say that they will address deficits and republicans agree to raise the -- raise taxes on wealthier americans. republicans even with tax increases democrats have failed to offer a plan to confront medicare which budget analysts say is the most unsustainable costs. lori: thank you so much. melissa: isn't morgan stanley pulling out all the stops to keep unhappy brokers at the firm? charlie gasparino will let us know after the break. he has all the gossip. lori: more gossip than you. melissa: like that. one. lori: and the euro. that is so exciting, although it means the dollar is weaker. the currency is faring. high hopes, but anticipation for

the ecb. some of the sovereign yields are coming down. so all signs point to positive. back with more after this. ♪ sometimes investing opportunities are hard to spot. you have to dig a little. fidelity's etf market tracker shows you the big picture on how different asset classes are performing, and it lets you go in for a closer look at areas within a class or sector that may be bucking a larger trend. i'm stephen hett of fidelity investments. the etf market tracker is one more innovative reason serious investors are choosing fidelity.

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♪ >> reporter: get 20 minutes past the hour, your fox business minute. the red cross says no casualties had been reported after a strong earthquake rocking custer rica. shipbuildings and cut power in areas of the capital. geologists said the u.s. geological service says the fact that the quake was 25 miles below the surface should help minimize the potential for serious damage. jurors have begun deliberating the fate of true peterson, the former eleanor police officer who pled not guilty to murdering his third wife, kathleen said deal in 2004. only charged after his fourth wife, stacey peterson, disappeared in 2007. and smart phone orders, apparently you guys were worried about your privacy because according to new p research studies more than half of moble application users decided not to

download an application after the red how much personal permission it would have to share first. 30 percent of those surveyed said they had removed and after discovering a much information connected. big brother is watching us everywhere. those are your news headlines and the fox business network. now back to melissa and lori. lori: it's inevitable. thank you. we will fall to technology up and morgan stanley ceo plan to become, it -- largest, successful brokerage business in the world? who else but charlie gasparino has all the details of the story >> reporter: becoming a very acute problem inside morgan stanley. there is a problem with technology. brokers are threatening. they have not left yet, but they're threatening on mass to leave the firm. here is what we know. they appeared the technology to. this is the brokerage system. your mr. or mrs. jones and you go morgan stanley and want to buy stock, you can go in there, the philip the big board and put you in the computer. apparently this new technology system allows you to do much more than buy stocks.

by derivatives. it doesn't work. it doesn't work to the point where forget about the stock. he can't even beat registered. this is an acute problem inside morgan stanley. what is going on, greg fleming, head of the wealth management division with a fox business network has learned, launched a seven city tour, just finished up last week miami, l.a., dallas, boston, new york obviously, atlanta, san francisco. yes. san francisco. and basically trying to prevent a sort of massive defection. we do know as of right now there has not been a massive defection. they're not losing assets in droves. they're not losing brokers, but the potential for that to happen is huge. and here is the bank. if you own morgan stanley stock and follow this company, this is one of the biggest wall street firms. they may gamble. they bet the ranch and brokerage. they are transforming his firm from what used to the arrest taking firm that the investment

banking and the site to one that is more about dispensing advice to small investors, morgan stanley has the biggest british firms as they did that deal with smith barney, buying the smith barney brokerage from during the height of the financial crisis. 17,000 brokers. the biggest brokerage firm and the country. you can't sign up new customers, you have a real problem. this is just another headache that james gorman faces commanded is a pretty big one because you can't sign people up. this is basic stuff. you have real problems. as i said, they have not lost brokers said. they have not lost assets yet, at least that is what they're telling me, and they said this will be borne out in quarterly results. melissa: if you are morgan stanley brokerage, where we you go if she left? >> reporter: we should point out, that's a good question because a lot of times morgan stanley says, you want to give a merrill. actually, merrill would consider themselves the care of the crop. would you want to get to ubs? nothing is draw on wall street.

people pay retention packages, up-front fees, bonuses to lure brokers from one job to another. there are other places to go. yes, morgan stanley is run by good people. james gorman is as smart guy. you know, he worked at merrill lynch, ran a brokerage department. he was an outside consultants. this guy understands the business of trying to sell stocks, bonds, whenever to small investors trying to become a wealth management arm for small investors. you can go work for bob mccann over at ubs. he used to run the maryland's department. you can work for bank of america which owes merrill lynch and the people there. i forget the guys in that runs it, but fairly significant player in the wealth manage a business. when i understand, one of the top guys. there are other places to work, but you know, this is a real problem, i think, for james if he does not give his hands around it now.

i mean, first off, it's not easy just to pick up and leave to another firm. you have your assistance, so much an infrastructure. the problem is, if you can't sign people up you have real problems. you can bring in new investors in this environment when you have a firm dedicated to this part of the business, that is what morgan stanley is doing. well. by the way, it's going to cost the march of credit. this is a huge problem. obviously a developing story and we will keep audit. lori: thank you so much. melissa: could a country be exiting the eurozone? several? find out which ones may go, which ordered, who should stay, he should go. has to be a sign. melissa: first, to collect some of today's winners and losers on the s&p 500. you can see, trading better than 5 percent of the day. we'll be right back. [ male announcer ] this is the age of knowing what you're made of.

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our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottrade. melissa: time for stocks as we do every 15 minutes. looking at major movers. >> we do have major movers. markets are higher across the board. want to look at a couple names on the move. start first with guide wire. that is one we're watching closely. guide wire had up arrow. fiscal fourth quarter profit. software-maker and grabbed attention of wall street. you can see here, up about 10% on the day. so certainly a stellar performer. they had revenue growth and services revenue on the rise. i want to look at nokia. when you talk about nokia, you look at the fact they have had a lot of shareholders that have been extremely frustrated with

nokia. today was the day of the new phone. really you're seeing a stock that completely turned around. started to the upside, the lumi a9 20 which uses windows software. it was supposed to be the next great thing for nokia. they moved to the upside and selling off now. tough day for shareholders. back to you. lori: steve ballmer coming out giving aggressive expectations for the phones, mobile devices that will use the windows 8 operating system. interesting against a backdrop of apple being the market leader. much more on that throughout the day. keep up to date here on the fox business network. we want to switch gears. global economy is big item next week. are we on the right track or just getting there? harry dent himself, wonderful to see you. >> nice to be here. lori: so the buzz today the ecb will do an unlimited

bond buy of distressed short-term debt. what do you think? >> i think this is a desperate move. that is the first thing to notice. if there is any disappointment there will be problems. europe is the biggest question mark in the whole markets today because greece is looking more and more shaky. spain is looking more and more shaky. they had the greatest real estate bubble in all of europe. it is breaking down. we know in the u.s. when a real estate bubble bursts how hard it is to recover. i think there will be more and more challenges in europe. the question, does it start to blow up now or blow up next year? i think in the next year you will see big problems. lori: i was going to say probably not sooner, perhaps later to your forecast there, harry. the euro is firming today. those yields we keep a close eye on, italy and spain are coming down. that is good sign. draghi said a couple weeks ago he is intent doing whatever it takes. are you optimistic in the short term? >> europe has to do something. i think they will.

the problem when you're falling into a deeper recession, more people are getting into problems, more businesses more banks, any day you could have a blowup of a bank in spain or greece could just miss its target. again we're in a fragile environment. markets are expecting stimulus. there will be stimulus from europe and the fed. what if there is a problem in europe? what if fed lag as little bit or europe lag as little bit? the markets are in a tenuous moment. i think the markets will go up a bit from here but we'll probably see some disappointment in the next month and see a kind of correction before we get a better chart. i do believe by mid next year we'll be in a major bad situation in europe and in china. lori: i want to stick with europe for one second. a major bad situation. is this disorderly breakup of the eurozone countries? >> yes. because obviously they want to hold the euro together for good reasons. there are so many implications if they don't but you can't do it with the weakest countries, greece,

portugal, spain, cypress. lori: who is out? >> huh? lori: who is out? >> they have to go out. greece goes out first. when greece goes out it puts pressure on spain bank deposits a run out there and could force out spain and portugal. that is the problem. one country goes, the other goes. if you get the countries out, the euro can devalue. they could do eurobonds because there would be more after basis. you can't do it with the weak countries especially spain. spain will sink euro. lori: sink the euro but not get out as a currency? >> right. lori: what the forecast there? >> i think parity or a little bit below. the euro should be parity with the dollar historically and they have more problems than we do. we both have major debt problems, major demographic problems by our research but europe has the more imminent problems. lori: i only have a couple secs here, harry. you mentioned china.

highly focused political season here in the u.s. where are you optimistic, if anywhere at all as to getting this whole global picture on the right track? is there anything to be hopeful for? >> you know, the biggest hope we've got so much debt around the world, especially in private sectors. much more than government sectors. if governments would help restructure private debt, estonia, iceland, there are countries that already done this and already coming out of the crisis doing better. we're ignoring the biggest problem in the world, the greatest private debt bubble in history, way greatest than the greatest government bubble. governments should work to restructure private debt. we can't bring these high mortgages in business and financial debt in the future. it will sink our economies, all of us, europe, united states, everybody. lori: harry dent, many thanks for your time and analysis. your forecasting is always great. melissa, chorus is growing louder of private debt bubbles. he makes a great point. melissa: he really does. when comes to gold competitiveness the u.s. is

failing again. up next find out where we rank and why the drop and we'll get the take from lou dobbs on all of it. lori: i mentioned in the shot that european yields are coming down. here in the u.s. they're unchanged. we saw buying earlier on some weaker, if you will, economic news. the productivity was sky-high but of course wage growth was muted that is a huge disappointment. our bosses are squeezing everything they can out of us. back with more after this. lori: you're going to get in hey! did you know that honey nut cheerios

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>> i'm cheryl casone with your fox business brief. nonfarm productivity increased at a faster rate than previously thought in the second quarter. employers were able to get more out of their workers. according to the labor department productivity came in at 2.2%. that is up from the initial estimate of 1.6%. meanwhile safeway shares are jumping. the company has taken steps towards the initial public offering of its prepaid gift card unit, black hawk network holdings. depending on the market conditions they expect to complete the ipo in the first half of next year. the hartford financial services group is on the rise as it moves toward a broad restructuring. the company is selling retirement brand business to life insurer mass mutual for $400 million in cash. that deal expected to close by the end of the year. that's the latest from the fox business, giving you the power to prosper.

more markets now after the break.

melissa: democrats hold their big convention there is more bad news about our economy to deal with. we aren't as competent testify as we used to be. that's a big shocker, according to a knew report from the world economic forum which ranks the world's most competitive economies. the u.s. slipped for the fourth year in a row, this time from the 5th slot to the 7th slot because of political and economic problems. number one is switzerland. shockingly singapore outranked us as well. >> that's right. singapore often has to the power days of yu, who stands as period of time pet wall senior minister in singapore brought vibrancy, innovation, technology, to singapore, the island nation. they're an extraordinary. another island of a sort is switzerland of course in the

midst of europe. i always laugh about this. i know schwab quite well. melissa: of course you do. >> the world economic forum. i get a kick --. lori: does that surprise you? we were drinking buddies myself. >> i get a kick out of the guy because he put this is out and originates in geneva. and switzerland is number one. it is better that other people brag about you. melissa: well --. lori: this might be the wrong interpretation or takeaway but i'm wondering if this has to do with our falling competitiveness, lack of demands for our exports? china slowing, europe's a mess. could that have something to do with it? >> i think it has something to do with a host of issues but, as, as the world economic forum points out in this study on competitiveness the reality is we are burdened with excessively high taxes. our manufacturers, the leading service companies in

this country. the burdened with high taxes, high regulation, and not as much innovation. part of that is our fault again, simply in terms of anyone know vision because we have -- innovation and outsourced and offshored production. innovation generally takes place in proximity to the venues of production and that's what, one part of what is happening here. there are some factors and it is so complicated but reality we're still hanging on in the top 10. melissa: yeah. >> we're not doing terrible. lori: what are they making in switzerland so great and putting them at the top? melissa: chocolate? >> it's a secret. [laughter] melissa: only thing i would quibble with the animation piece. i read the study. we still have apple. and a lot -- no, we don't? no good? you have an iphone? macbook? >> i mean, when you start

to --. melissa: ipod? >> evaluation of our competitiveness and our innovation the great technology companies reside, for the most part in the united states. melissa: right. >> that is where most great strides have taken place in technology. unfortunately, when you start looking at, you know, the biological sciences, life sciences, where once we dominated, they are moving, around the world. we are losing in some quarters of where once we dominated. pharmaceuticals, just the number of pharmaceuticals that are american, those companies, at a time, particularly when it seems we need them more than ever, we have fewer than we have ever had. lori: that's such a great point. whenever we talk about innovation we think about technology. melissa: your absolutely right. pharmaceuticals is great point. >> one out of seven isn't bad. lori: rate performance from mr. dobbs. >> can we wait from that

until i'm out of the studio? i'm a very sensitive fellow. lori: yeah, right. melissa: coming up next hour, throwing me for a loop we'll have more on this from the people behind the report, chief operating officer from the world economic forum, oh will join us. >> man. melissa: should i ask the question this was done in switzerland and switzerland -- >> why not? entirely a fair question because that's my question. melissa: yes. and i'm going to watch you tonight at 7:00 when i heard you have ed klein, the author of "the new york times" best-seller, the amateur. >> number two on "the new york times" best-seller, on the inside of the obama administration. melissa: interesting. lori: compelling stuff. thank you, sir. >> thank you. great to have you back. lori: thanks to feel some love. beside myself. 15 minutes, check the markets. nicole petallides on the floor of the new york stock exchange. tony hayward has been in the news recently. >> we're looking at bp very closely. bp getting lambasted today. when you think back to

obviously the days of the big spill. it was largest spill in north america and the u.s., in the gulf and so here today you see it is down 3%. transocean down in sympathy. but the deepwater horizon. the trial has been underway. the justice department really ramped up its rhetoric, playing a real strong, taking a sharp position against bp with this. and so, just talking about gross negligence. and also wil full misconduct. and so these types of phrases are, certainly not, comforting in any way to shareholders. and as a result, you see the stock selling off, down 3%, on a day where oil right now is flat as can be. back to you. lori: nicole, thank you. big week for tech. even though that is not the only source of innovation, tech we just learned. today we have a new phone from microsoft and nokia. it doesn't stop there. new product announcements from amazon. apple also on deck. coming up here a look what to expect, if anyone takes a

big bite out of apple. melissa: as we head out to break here's a look at some of today's winners and losers. marvell technology, heading up the winners up almost a percent 1/2. we'll be right back.

melissa: gold edging lower ahead of tomorrow's ecb policy meeting. is this the beginning of a significant slide for the precious metal? sandra smith following gold from the cme and she joins us. sandra? >> hey, lori and melissa. look at gld. there are a few things to highlight the last couple trading days of the week. gld, we're seeing record holdings in the largest gold

etf. something to consider. that means investor interest is as at a record high. it is up about 8%. now at $68 billion market cap. then look at the price of gold itself. very interesting technical level to watch there. we're looking right at $1700 an ounce, just below there today. not straying too far from there. we have a lot to watch here in the end of the week. here's what is on the calendar. we have the big ecb meeting tomorrow. gold watchers have to watch on that. very dependent what happens there. what kind of bond buying program will we see? how will that affect inflation concerns. that will all be a big concern. of course we end the week with u.s. payrolls data. traders down here you can definitely sense some caution as we enter into the very key important events for the market and gold is a prime example where investors have been very, very bullish and they're pulling back in a wait-and-see mode ahead of all that stuff. lori, melissa. back to you guys. lori: sandra, thank you.

nokia hosting an apple-like event this morning announcing the latest smartphone to the market. surprise guest? microsoft president steve ballmer claiming that one million devices will run on win 8. we have much more on the nokia phone and other tech gadgets hitting the market right in time for the holiday season. great to see you again, john. what do you make of steve ballmer and his forecast $400 million total devices to run on windows 8? >> when you include the pc market that is pretty much in line with gartner's expectation. we're expecting 400 million, 425 million pcs to be shipped. 90% market share, you get the 400 million number around there. that is reasonable number and realistic number but not an out of the ballpark number if you will. lori: compared to apple you have the ois operating system, runs explaining to me on iphone and ipads. you have a whole different operating system that runs

the mac. so, that is part of the strategy with this nokia-microsoft phone. >> absolutely. microsoft is trying to bring its ecosystem to the fore. that ecosystem is the pc operating system. developers that write software for the pc operating system will work on windows phone and tablets running win 8. it is across all three of those spectrums if you're on windows 8. lori: apple device, 400 million is what ballmer is predicting. >> apple, if you include pcs there, you're around half a billion. with the ios device, probably half a billion, just the ios devices, maybe a quarter of a billion there. lori: so apple owns the market share for most of these, all of these things really. talk specifically about the lumina phone and whether or not it is a good enough product in your view to really take on the iphone. is it good enough for people who use iphone or blackberry to switch to it? >> absolutely. that's what this phone is. i don't think the lumina 900

is a phone to get people to choose it over the iphone but people that bought it will be happy about it. this phone will get people into the store, get them to look at it and say i want that phone instead of iphone. lori: has a great camera. what else is great? >> location services, mapping services. that is something nokia has been working on, location services and commerce game. they're bringing proprietary app. that is big thing. lori: android razr, iphone 5 next week. is the market shaking up little bit for these smartphones? is apple, can the lumina product be an iphone killer, if you will or will we see the pie split up into more even pieces? >> i think it will work more like the xbox than a real home run. what i mean by that, they stuck with it, kept delivering, innovated over time to become a competitive product. i think that is what will happen here. but the market is pretty

much consolidating. i don't think there is a lot of room for a lot of new entrants coming in. if you're not in the market by 2013 and not established it will be difficult. lori: you're still on board with microsoft entering into the mobile device marketplace. this strategy of hosting this event today, so apple-like . what do you think of that strategy? high security. ballmer make as surprise appearance. trying to be wannabes to apple, right. >> right. i don't know if it is wannabes, what the market responds to. the market responds to flash, it responds to glitz. it is a show. lori: a strategy for apple that will work and get them a leg up on apple? >> as people learn more they will use the ecosystem. that will be driver. enterprises want to support windows and as few devices they can quite frankly. that is the real angle it is coming back. depends on what the ecosystem does. three parts of the ecosystem matter. people developing software. microsoft itself and the hardware vendors. over time all three of those

will learn how to optimize windows 8 and when that happens they will have very competitive products in the market. lori: we shall see. john, thanks so much for sharing your outlook on this. thanks a lot. >> thank you. melissa: coming up on "money" more on oil's dire strait. we'll focus on the cost of safety in the strait of hormuz. i interview the head of the uss enterprise, captain william hamilton, jr. breaking down the real cost if the strait were to close and impact of allic spending cuts on the troops in arabian sea. that is coming up 5:00 p.m. eastern on fox business. lori: did you hear the debt passed $16 trillion? you might not know it from watching the democratic convention. they're embracing all of this spending. up next neil cavuto joins us live from charlotte with a look at last night's speakers and what to expect when bill clinton takes the stage tonight.

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>> welcome back, i'm lori rothman. >> i'm melissa francis. will anyone talk about the national debt. neil cavuto is fox business managing editor and vice president. he is the big cheese if you don't know. he is not the elephant in the room. he is big cheese. >> is the united states losing its competitive edge. the world economic forum says yes. we'll speak to the head of the u.s. arm, kevin steinberg about surprising results in this group's new study. time for stocks. been 15 minutes since we last checked in with nicole. melissa: has it already? lori: time is flying by. we're having a great time, except if you're long the market you're not having a great time. nicole? >> we lost some of our

earlier gains, that's true. s&p and nasdaq composite turned back into the red. they weren't too far off the unchanged line, .2 and moves we're really seeing and the dow is flat at the moment but we've had a lot of names on the move. the vix, the fear index, is to the downside. a lot of focus on the ecb in the next 24 hours. that is grabbing the attention of wall street. the jobs number, a big feature here, arguably the most important economic report that we get each month. we'll look at dow component disney. all-time high for disney. and so if you're a shareholder, you own major indexes, you own a mutual fund you may own disney in there as well. it hit an all-time high today. nice 10-year chart for you. above the $51 mark. doing well with theme parks and movie films as well as vaeng vaeng. lori: happiest stock on earth.

"the avengers". melissa: fox business senior vice president, managing editor, the king himself, neil cavuto is in charlotte with the latest where it is a celebration of spending i hear? >> the big cheese is true but it is fun to see now the big dog come up here. that is bill clinton's night and his moment. and they expect as he always does at these venues, to do a bang-up job and keep the sort of coupe de gras we had with michelle obama, humanizing the president and talk about his struggles. bill clinton will lay it out in terms that this convention should get electrified with. this is the stewardship you want at this time for the economy. much has been made of the friction between the clinton camps and the obama camps and whether this was dangerous for the obama camp to go ahead and let bill clinton speak. first there was a rumor this speech was not even cleared

through white house officials. we're told it is not true. we also know from past history bill clinton often revises his speeches. it would not be in clinton's future or his wife's political future to do anything to damage barack obama tonight. all indications are he will not. you want bill clinton in your corner and that is what barack obama has going for him. he will talk about benefits of raising taxes on upper income. bill clinton tried it and rut was a boom in the economy. simply returning to the rates when he was in office wouldn't be the end of the world. there will be many naysayers in the audience, all ignoring this debt. but if anything bill clinton might bring it up to point out the fact when you get a policy that is inherited and he will use that word, not necessarily the president, then this is what happens, debt sort of piles on because we don't make the tough choices and in democrat's opinions, would be tough choices and include a big revenue component raising taxes on the upper income. the battle lines are to

embrace what this party stands for. what is interesting, guys, how neither party is running away from what might have been a little more than a few weeks ago its vices or at least its perceived weaknesses. last week in tampa republicans embracing a nerdy ticket. it knows business, knows the numbers and they're quite comfortable wit that. quite comfortable wit private capital. quite comfortability with capitalism. this ticket is quite comfortability as well as 20,000 plus conventioneers with government or bigger government. they have been trying to extol its virtues in a number of norman rock well-type guests and appearances. look it does for people that had no health care, now they have health care. for those sick kids, bring out the couple with sick kids show it all to their benefit. they leave out the fact that a lot of this costs a lot of money and many argue it wastes a lot of money but see the virtue in what they're trying to do. each side embraces government from a particular perspective.

republicans by and large hate it. democrats by and large big fans what they created with it. it will be up to voters to decide. i suspect, given the proximity of these conventions, whoever gains it will be short-lived. we might be back to where we were in the beginning. melissa: neil, you really think bill clinton can resist the temptation to sort of get in one of those left-handed compliments? he is a rascal. he is known to sort of throw barack obama under the bus when he said that mitt romney has a stellar business credentials. when he says it doesn't make sense to raise taxes on anyone. >> right. >> i mean he's a rascal. can't really help himself. i seems like i'm going to sit back with my popcorn and listen to every word of this one, aren't you? >> well, you know, it is interesting, you should say that, melissa. if you think of the ones who parted company with the president's attacks on bain capital and private capital. not only president clinton but duval patrick who we had

a brief chat. we couldn't get a sit-down interview. we chased him down on the floor. i'm scariest site to see you being chased down by me with a microphone. cory booker said, look, bashing private capital is nauseating. they were all reined in from the white house. all is supposedly well and good. all of these guys to a man were trying to say in the nicest of way, a signal to the white house, you have to dial it back a little bit, mr. president. capitalism, isn't a bad thing. this is a zero sum thing, the strategy you have. that is why you're seeing them ratchet a little bit differently, framing the virtue of making it from nothing. but with government always there as the backdrop. it's a very, not so subtle difference in this campaign convention approach than republicans. but it is distinct. and everyone supposedly is on board. melissa, i like you, agree, that bill clinton wasn't sending a clear message. this was not the moderate

signal he was sending when he was president. a lot of people say that was successful democratic president. i miss that. lori: all this bad economic news falling into your lap. economic news and jobs report on friday. how are they playing that at the dnc? >> it is weird. like a disfunctional family. republicans ignoring some of these spending issues when they were backing away from sequestration. they pushed forward for it and backed away from it. debt hit 16 trillion yesterday as if it didn't happen. weak factory orders as if it didn't happen. three months in a row of a weak manufacturing index as if it didn't happen. i guess you stick to the script and stick to the message, which the economic trend is your friend despite all the data i alluded to, say collectively, 29 months of job growth. might be weaker job growth than expected on friday. be that as it may. that is what they're going with. they all embraced the idea that the way we look at it,

you are better off than you were four years ago. that might be a dicey debate strategy later on in the fall but that is what they're going with. you have to say that both parties are embracing the republicans their inner nerd, democrats their inner spenders. they're okay with it which is fine. which is fine. melissa: big cheese, neil cavuto. thank you so much. >> well, get back to kevin on that. i think he and i would disagree but go ahead. melissa: stay tuned to fox business for complete coverage of the democratic national convention starting at 8:00 p.m. eastern time. or start watching my show at 5:00 and just stay on the channel. i think really think that is what you should do. so, coming up --. lori: got my mouth open. melissa: were you ready,. lori: i'm there all night long. boy you can be as savvy, well you are always, when neil, finished last night, he said are you clueless, like everyone else in this convention?

used other terms to describe what was going on with the national debt. i will be watching at 5:00. melissa: anyway, new on the for closure crisis will millions of empty homes affect voter turnout. lori: count down to football. melissa: what are you talking about? i love football. lori: advertisers are, doing a pep rally in times square on friday, pepsi. so i will be there. i might be a little late on friday for the show. check that out, i love -- check the oil trade. down a little bit today. oil flat. back with more after this. want to try to crack it? yeah, that's the way to do it!

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together we'll go far. lori: an issue apparently no one is talking about but it could have a serious impact on the presidential election. talking about the foreclosure crisis. liz macdonald joins us now. >> tell you something, i've never been as interested or excited about a topic as this one because no one's talking about it. you talk to any pollster who is looking at voter turnout and they will tell you, they have no idea what is going to happen in this election because they don't know where the voters went who are affected by foreclosures. 3.7 million foreclosures since 2008. 641,000 in california alone. already university of

california at riverside is saying look, voter turnout was suppressed in 2008 because of foreclosures. now here's the deal. you're going to see in this map, the hot spots what we're talking about. california, florida, nevada of course have been basically foreclosure hotbeds of problems. but ohio, which has voted for every winning candidate since 1964, people who are doing polling for this election are seriously at a loss. they do not know where this election is going it to go because places like cleveland and columbus, solid i in one camp, seeing record foreclosures. they don't know where those people went. the swing states. s also they don't know where they left the state, whether they left the swing state, the voter turnout is up pressed because just don't want to come out and vote. they saw that in in california in 2008. again what you're going to see people who don't want to come out to vote are the young, moderate, minority people.

solidly middle class. whereas the older voter may take over this election. we don't know that just yet. there has been huge problems right now doing voter canvasing to figure out which way the swing states, these foreclosure states are going to go. so this is a serious issue that is not getting enough attention. they think again in california they will have levels of voter turnout they last saw in 1996 and 1968. low levels of voter turnout. watch out for this issue. this is a hot issue coming up now with pollsters right now. we really don't know if this will be nerve-wracking and right down to the wire with this election due to the foreclosure crisis. lori: republicans are you better off than you were four years ago they have been asking and putting out there in reaction to the dnc, boy, these people foreclosed upon in these particular states are more than likely to say no. >> they're less likely to trust. more anxiety. they don't feel like going out even to vote. when that happens their neighbors do the same thing. it sweeps around into the neighborhood of where these

foreclosures are. even people that wanted to go out and vote they may not vote, that further suppresses turnout as well. this will be a hot issue. we'll be on top of this one. it is a big one coming on the radar screen. lori: emac, thank you, sir, ma'am. >> whatever. melissa: as we do every 15 minutes, let's check on the markets. nicole petallides let's check on the new york stock exchange. nicole, what's moving. >> maybe in tough economic times people have a little drink. that seems to be the case because the stocks are moving to both highs. looking at constellation brands as we as brown forema'am. constellation has other things. brown-forman is jack daniels. they have done well with jack daniels but not so well with southern comfort. they have done exceptionally well over this past year. for example, constellation brands is up 60% over the past year. then you have 22% gains for brown-forman. clearly outpacing the s&p

500. so these are both sharply higher this year and hitting some new highs on a tough economy or just people are liking their brands. back to you. melissa: nicole, thanks so much. we'll check back in with you of course 15 minutes from now if we make it. lori: jury is out. we'll see if the wheels totally come off this hour. melissa: exactly. coming up the euro's next move will hinge on what the european central bank does tomorrow. one leading currency analyst shares his take. that is coming up next. lori: look at the dollar. dollar is weakening against the euro. people are optimistic on the ecb. the euro faded some but not by much. back after this.

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>> at 21 minutes past the hour i'm juliet huddy with your fox news minute. officials say there are no reports of deaths or major damage after a strong 7.6 earthquake rocked costa rica. the quake rattled buildings and cut power in areas of the capital. a strong tsunami warning has been canceled this hour. this is the biggest quake since another 7.6er killed 41 people in 1991. tests are determined if

old oil that washed up on louisiana beaches after hurricane isaac came from bp's spill in 2010. officials banned fishing in waters extending a mile off the state's coast. u.s. officials have warnings to 39 other countries that citizens stayed in tent cabins in yosemite park this summer may have been exposed to a deadly hantavirus. 26 lived outside the u.s. let your friends overseas know. back to the lovely ladies, melissa and lori. lori: thank you, juliet. dollar is rising a day before the european central bank is expected to unveil a new bond buying plan to ease the europe's financial crisis. we have the a straight gift from gain capital. eric, welcome to you. this whole idea, the idea of a bond buying program was actually leaked. tell me what you know about that and information you

have to the plan and how aggressive and successful do you think it will be? >> right. so ecb president draghi initiated that he would come up with this bond buying plan in the last meeting. in the past few days a lot of details are being leaked out of the ecb. they will do unlimited bond buys sterilized to maturity up to three-year. lori: how important is that sterilized? that basically balances out mountsy sup ply. how is that key to the plan? >> we've seen a lot of bond buying optimism has been priced into the market. euro has potential to decline on tomorrow's disappointment because a lot of these details have come out. lori: why does draghi have to speak tomorrow any way? or why does the ecb, what is their job from here? >> the main question is conditionalty. ecb is concerned by transition from high bond yields and fragmented

eurozone. what draghi has to he will it markets what conditions will be in order for states to receive aid. in order for the ecb to go in there and buy those bonds. depending what these conditions are, it will be up to the states like spain and italy to request aid and for the ecb to buy their bonds. lori: their yields are coming in today. that is a good sign perhaps these conditions will be doable, some of the conditions in the past, some would argue led to overturn of the government in france. >> yields have been coming down today. they have been coming down quite a bit since the last ecb meeting when this plan was first acknowledged. that could be another one of these buy the rumor sell the fact because a lot of people are pricing in that the ecb will be buy bonds. the yield specifically has been coming in on the shorter term debt, two to three years. lori: harry dent, our guest earlier this afternoon, the economic forecaster, predicted that the euro, the currency itself would drop to parity to the u.s. dollar in a year or so time. what do you think about that forecast? >> i wouldn't rule that out completely because there are

a lot of structural imbalances in the eurozone. recent data with pmi numbers below 50 suggesting contraction indicates that the eurozone could be in recession right now. pretty likely they are. it will be a long fix for the euro to get back to a more sustainable region in terms of financial and economic sustainability. so you know, parity, i wouldn't --. >> i'm losing time of course. we're always in a rush around here. forgive me. quickly your comments on the fed. obviously bernanke mentioned this situation in europe is tremendous risk to the u.s. a lot of talk about. about qe3. all eyes on the jobs report and next fed meeting. how do you see it unfolding? >> all options are on the table. qe3 is on the table. other conventional measures. we think the labor market the fed is struggling with. this friday's labor report will be key to determining whether or not the fed needs to act more urgently at the next meeting. lori: will we see 100,000 jobs added? what is your

forecast? >> our forecast is above 100,000. lori: thanks so much. we'll see what happens. eric, appreciate it. >> thank you. melissa: not so sweet 16 for the nabs national debt hitting a staggering $16 trillion. we'll look how it could shape the democratic convention. plus gerri willis why she says democrats are in denial about the debt. much more on that coming up. lori: look at stock winners and losers. the market is virtually flat. there are significant losers. devry up 4.6%. even davita incorporated is up 3% today. we're back with more after this.

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♪ lori: welcome back. well, the first accredit president to be reelected since fdr. president clinton wants to help president obama become the second. president plenty tibetan officially nominated president obama's nice, but will the nation's 16 chilean dollar debt of percent of the convention ? nokia, microsoft unveiling a new smart phone in their latest effort to win market share from apple, ," en samsung's. early views were mixed. organic food is more expensive without question, but is it healthier? a new stanford study says maybe not. it found little evidence that organic food has more nutrients than non organic food. nutritionist will help us break down all those results. melissa: have passed. let's get a check on the market. nicole petallides is on the floor of the new york stock exchange. what you checking out? >> reporter: am sitting here

with ben willis, looking at the dow above the 13,000 mark, s&p holding 1400 once again. everyone is back from their summer vacations. bullish, bearish, what do you think? >> today is a waste of a clean shirt and carfare. very boring. this is truly a mickey mouse market. >> reporter: so give us for looking. maybe you're talking minute to minute. how about big picture. >> september traditionally is a pullback on, but the big picture for the week is going to be the central bank's talking about right decisions, the ecb, the british banks and then our own employment numbers. we get a little hand tomorrow. jobless claims. friday, of course, the big dog, the most important number to the home market. whether that will give ben bernanke in of wiggle room to do any kind of teasing. >> reporter: one question that we have heard a lot of a vase weaker so. are you better now than you were four years ago? and what are you hearing from some of the people you talk to

hermosa? >> the best of the matter to the fact of the matter is you are better off. that is the issue. that will be the fight between mitt romney and our president as we have now. i mean, neither one really is a favorite of mine, so we will see what plays out. >> reporter: that's interesting. all right. we should also note that volume is higher than it has been a couple of weeks. a lot of folks are back from their summer vacations, and we are back under way in a full fashion. lori: maybe not a waste for everyone. the clincher to work. a great thing. melissa: the democratic national convention kicked off on the heels of the u.s. national debt climbing over $16 trillion. the party delegates and supporters let this overshadow their funds. of course not. rich edson has the full story. >> reporter: that's right.

republicans would not stop talking about it, highlighting to debt clock above the delegates. republicans are continuing to highlight the national debt, pouncing on the 16 joy in dollar news which releases, graphs, and speeches. >> we have got to stop spending money that we just don't have. [laughter] >> we have to cut spending. we have to get this deficit and debt under control because it is dragging our economy down and is giving our children a diminished future. >> democrats have blamed much of the national debt and republican opposition to tax increases and the cost of two wars and a recession under president george w. bush. few in charlotte are talking about it, the left-leaning center on budget and policy priorities rights, if not for the bush tax cuts the deficit financed wars and the effect of the worst recession since the great depression, including the costa policymakers actions to combat it it would not be facing these huge deficits in the near term. republicans say it is also about

where to take the country from here, and point out there plan saves trillions more than the president's and controls medicare spending without raising taxes. back to you. lori: thank you so much. lori: are growing national debt helps that we just get that round number, 16 trillion, may not be the only thing democrats are in denial of. the big slug and thus far, are we better off than we were four years ago? a look at all the ways in which we are worse off than we were before. >> i don't think this is the democrats talking. [talking over each other] republicans are saying are you better off. [talking over each other] lori: did i get it wrong? >> no, that is the way of writing it in the script. anyway. [talking over each other] lori: it is brilliant. >> you're not. you said $16 trillion in debt. evidence number one. what i did is went back and looked at the nominating speech, the one rock above 94 years ago,

and he outlined what he thought success would be, and he is failing and almost every point. he talked about how median income should be higher. under bill clinton ever of 7500. under barack obama they are down 4,000. so again and again whether you're talking brought the total number of people who are employed, the number of people on food stamps, an all-time high , one and six, they just don't measure up. what barack obama has done in the last four years has not made as better off, not by a long shot. lori: of course what they like to do is blame president bush. this is what they were handed. they have done so much better than what was given to them in the first place. >> for years, 48 months. how long do you get. most people realize there is an expiration date and your tenure. clearly from the numbers we are still struggling to man that think what has happened is the economy has weakened yet again andrea trying to fight our way out of that. the only good point, prices are

coming back a little bit. lori: to her story about the worst hit states for foreclosures, many of these swing states, and when you ask those people how they feel versus four years ago, these of the people who are hurt the most these last few years. >> absolutely right. those are swing states. she says those people and not going to come out and vote, which is really interesting. recover this every day. we think everybody was to go and vote right now. not necessarily true. melissa: thank you so much. as always, don't miss tonight 6:00 eastern right here on fox business. lori: the nfl season is ticking off, sources the cowboys. kidding of becoming expensive campaigns. up next, look into is buying time, and is not just consumer products. politicians are getting in and then as well. melissa: was take a look at interest rates. ahead of the ecb. sorry, they're buying

fixed-income products pushing yields up. the 30-year treasury is at 271%. stay with us.

♪ >> i'm robert gray with your fox business brief. stocks are a little changed as investors await tomorrow's key european central bank decision on buying government debt. the monthly jobs report here in the u.s. is due out friday morning. the government bailed out ing is selling its more than 9% stake

in capital one for roughly 3 billion. the move by the dutch financial services company is to help boost capital ratios as it looks to repay the bailout. and 3m and rival have remained committed to a deal that they work toward addressing federal antitrust concerns. the companies voluntarily withdrew court papers for the proposed deal. the purchase agreement remains in place. the justice department threatened to file a civil antitrust lawsuit because it said the deal would lead to higher prices and reduce innovation. that is the latest from the fox business network, giving you the power to prosper.

lori: we are already fighting to existing case you're wondering, already arguing about this segment. sales of organic food top $31 billion after a new study

from stanford university shows that the more expensive choice might not actually be the better choice. is the whole organic industry kind of a sham? gary glassman is founder and president of a nutritious life, and she joins us now with more on this. so this stanford study put together for decades of research. of the ." on we began this project without it would likely have some findings that would support this superiority of organic foods. ridiculous surprised by the results. melissa: here is the thing. most people are actually not buying organic because they think, well, this apple has more vitamin c than this, an example. there are many other reasons to buy organic. there is the environmental reasons, taste. people also obviously consider cost and and, of course, the safety as far as pesticides. then there is also efficient. other studies have shown that some organic food is more nutritious. this is just obviously one compilation. lori: the majority do buy it

because we think it's healthier. 72 percent of people who bought organic food did it because it was healthier. 52 percent said they did it because they did not want to pesticides. >> i think people sometimes think healthier, healthier in general, not getting pesticides, not necessarily more nutrients. melissa: i have always believed that it is more important to buy organic to avoid the lack of hormones in their products. i have young daughters. what do you make of that? >> i think you're bringing a really good point. you have to take into account all factors. families need to look at what is most important to them. if you're buying -- sorry to interrupt you. avoid pesticides versus hormones, isn't that an important difference? >> i don't think necessarily that one is more important. for you it might be with young daughters. absolutely, which brings up another point. i was going to say that families have to look at what is most important to them. the environment, to they have the means to buy organic? if they don't, you can also

choose, go to the environmental working group on the get the dirty dozen 1915 as u.s. and germany. and for many people that are eating fluorescent orange pisidian packaged foods that of the bag, going for any of apple is really the best option. you just want to get in more for its investments and the more because really -- [talking over each other] lori: i am not a huge fan of organic because i don't want bugs in my -- is crazy. organic food as more bugs in it. >> no. the other thing with pesticides, the hall malaria thing. they stopped with the pesticides . it ended up causing so many people step because a malaria. isn't that a legitimate argument for? >> you cannot say that -- there was even the other part of the study. this is sort of hitting on that same note. the organic needs actually have less of the antibiotic resistant bacteria, you also want to consider all of those things that happen with organic farming that are actually much safer for you.

again, you have to take into consideration all the different factors. >> the price tag on organic food, is it worth it? is it actually costlier to have those products verses your regular of ample? melissa: ten to 30 percent more. >> it is more expensive. however, i cannot say whether or not it is worth it. it really depends. [talking over each other] >> protecting against whatever. >> the markup, is that actually the extra cost involved? >> exactly. yes. very often it is the farming and what goes into it. and even certifying, there are costs involved in that as well. >> interesting. lori: thank you for refereeing. melissa: i agree with you. lori: the nfl is back in business. football season kicks off tonight. consumer companies are paying big for the chance to reach advertisings best audience. covering it all. >> reporter: high. well, when the new york giants beat the daylights out of the

dallas cowboys on nbc tonight the nfl returns as the most popular, most powerful, and most expensive franchise and television. sponsors will pay princely sums to will the millions of shoppers who watch it. tv ads were already 90 percent sold out two weeks ago. $545,000 per 30 seconds. up almost an percent over a year ago. gmc trucks, pepsi, frito-lay, gatorade, tropicana, quaker oats among the nfl's sponsors this season. but let will unveil a new ad campaign tonight with 12 packs covered in fake pigskin and fantasy football tie-ins and promotional codes on more than 2 billion bottles of beer tide detergent -- tide detergent getting down and dirty sponsoring all 52 nfl teams and the attackers teachers to every fan in the green bay stadium. no wonder sponsors are all over this. almost 18 million people watch every game. football provided 23 of the top

205 cables shows last season. on cbs fox in d.c. the games get almost 40 million people. one pattern 50 percent more than the average network show. nbc sunday night football, the most watched weekly series this past tv season is almost 21 million viewers per game. number one among -- number one among adults. even number four among women under age 50. one last thing, guys, football is a marketer's dream. internet, itunes, on demand. it is a lot harder to get past the commercials and a live program that you cannot wait to watch later. lori: i don't know. we always are watching the football game like to remind the -- avoid the ads, but i might be alone on that one. >> i believe in watching the ads to pay our salaries. lori: when a my same. of watch all the ads. >> bingo. thank you so much.

melissa: throws big lasagna parties for football games. lori: had the you know that and i don't. i have not been invited guests. all right. cartel. we are in trouble. we try to do every 15 minutes. that set down to nicole petallides on the floor of this nyse-listed. >> reporter: taking a close look at nokia. we have been waiting and waiting for the new phone, the windows software. a little bit of hype. felt like a big secret. the little pop. no a big drop. down 13 and a half percent, and the talk on wall street is that the new phone which was on route today basically lax while power. and it does not really wowed investors enough. the competition in the cell phone world is so tough. and so this one did not seem to pull through. the nokia microsoft's own does not seem to be competing against the other names, and so there's obviously, in helsinki you are

seeing -- and this may be a last shot for nokia in the majors. we will see. it has been under significant pressure, and shareholders have been frustrated. today even more so. lori: thank you so much. melissa: which countries have the world's best a competitive edge? we break down the when is next. lori: first, here are some of today's winners and losers as we head out to break. want to try to crack it? yeah, that's the way to do it!

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♪ lori: all right. breaking news. the new york daily news is reporting that madison square garden sports president -- president's got the kneele is resigning. it is unclear why. considered a rising star in the business. abruptly stepping down after just three years according to the new york daily news. once again madison square garden reporting that their stock of kneele is stepping down. you can see the stock is trading down slightly. melissa: kind of interesting. quickly. the news article, he has been at odds with the carden chairman. so shaking up this afternoon. stimulus expectations. gold prices to an almost six month high. the rally is justified.

sandra has our trade. >> reporter: all right. a. the big question, our gold price is going to continue to shine? $1,700. we have ira epstein who will answer that question. it's your turn. hsbc put out a note today that gold prices are too high, overvalued, going to collect 10% >> i'm not in the same camp. for staring us in the face. taros meeting with the ecb. ready for a little bit of nothing. a lot of rhetoric. we give more interesting. friday we have the jobs data. that does everything else. we get the meeting. that's going to be bullish. the german vote. can they bail out the rest of europe. >> reporter: that will be huge. it's your turn where gold prices go. we only have a few seconds. >> over 1710.

1750 before you know what. >> reporter: there you have it. i resting bullish on gold. getting everybody state. the feeling is that kohl might fall back a little bit of what it's going to continue to go higher. lori: thank you so much. this morning the world economic forum released its "competitiveness report. the u.s. is falling behind. our ability to compete in the global states has fallen for the fourth year in a row as confidence in the country's politicians continues to decline. joining me now, the world economic forum usc zero kevin steinberg. thank you so much for joining us. we don't have a lot of time, so i want to get right to it. one of the reasons cited is political deadlock. that can sometimes be a good thing when politicians are deadlocked. why is that bad? >> well, and this particular case because the u.s. fell in rankings primarily due to concerns about debt, the fiscal cliff that is coming up, and concerns with u.s. politicians can get over the current dysfunction and start addressing some of these core issues in order to enable long-term

prosperity. lori: germany moved ahead of us, which i was kind of surprised about because, of course, they're dealing with the struggles in the eu themselves. >> well, germany scored well overall in the index. germany does very well relative to other european countries that suffered from similar items. when you look at germany, structurally very least -- very sound compared to places like greece which was 96 or spain, italy, portugal, and such. on a relative basis they're leveraging strengths and that strength in terms of the infrastructure or a large market and other items. >> and the point earlier, pretty funny, the top of the list. of course, the study originated in switzerland. any bias? >> we are very confident that we are not bias. we are based in switzerland, but they show incredible strength across many aspects of the index, innovation, has leveled per-capita of any country, strong educational attainment. if you look at what's ahead overall, it is a compelling story. maybe one of the few countries

now that is fighting to stop its currency from appreciating, not depreciating 56 thank you so much for making the case. >> my pleasure. thank you for having me. melissa: [talking over each other] liz will take you to the last hour of trading. countdown to the closing bell is next. stay right here. [ male announcer ] what if you had thermal night-vision goggles,

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liz: good afternoon, everybody, i am liz claman. the last hour of trading, the most important hour of trading, this is "countdown to the closing bell." easy does it, oil dropping, gold dropping, european market and u.s. markets all evening. word is european central bank president will be unveiling a proposal that seems the unlimited purchases of government debt by the ecb whic